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Politiche macroeconomiche e istituzioni : lezione 'Angelo Costa'

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  • Jean-Paul Fitoussi

    (OFCE - Observatoire français des conjonctures économiques (Sciences Po) - Sciences Po - Sciences Po)

Abstract
Why since at least two decades macroeconomic policies have been so active in the US and so passive in Europe? I contend that social norms have changed and that the new norms call for a greater degree of inequality. Then macroeconomic policies have to be active in the United States and passive in Europe. The change in the social norm was mainly led by the new generation of elites born after WW2 educated in a context where individual successes were more affected to individuals than to the collective action which has contributed to build the public goods they have benefited from.

Suggested Citation

  • Jean-Paul Fitoussi, 2005. "Politiche macroeconomiche e istituzioni : lezione 'Angelo Costa'," SciencePo Working papers Main hal-03459053, HAL.
    • Handle: RePEc:hal:spmain:hal-03459053
    Note: View the original document on HAL open archive server: https://hal-sciencespo.archives-ouvertes.fr/hal-03459053
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    References listed on IDEAS

    as
    1. Jean-Paul Fitoussi & Francesco Saraceno, 2002. "A Theory of Social Custom of Which Soft Growth May Be One Consequence. Tales of the European Stability Pact," SciencePo Working papers Main hal-01065024, HAL.
    2. Jean-Paul Fitoussi & David Jestaz & Edmund S. Phelps & Gylfi Zoega, 2000. "Roots of the Recent Recoveries: Labor Reforms or Private Sector Forces?," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 31(1), pages 237-311.
    3. Pierre Dehez & Jean-Paul Fitoussi, 1996. "Revenu minimum, allocations-chômage et subventions à l'emploi," Revue Économique, Programme National Persée, vol. 47(1), pages 33-49.
    4. George A. Akerlof, 1980. "A Theory of Social Custom, of which Unemployment may be One Consequence," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 94(4), pages 749-775.
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    6. Fitoussi, Jean-Paul, 1994. "Wage Distribution and Unemployment: The French Experience," American Economic Review, American Economic Association, vol. 84(2), pages 59-64, May.
    7. Edmund Phelps & Jean-Paul Fitoussi, 1988. "The slump in Europe : reconstructing open economy theory," Post-Print hal-03393283, HAL.
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    9. Jean-Paul Fitoussi, 2002. "La règle et le choix : de la souveraineté économique en Europe," Post-Print hal-03571372, HAL.
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    12. World Bank, 2005. "Economic Growth in the 1990s : Learning from a Decade of Reform," World Bank Publications - Books, The World Bank Group, number 7370.
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    15. Richard B. Freeman, 2000. "Single Peaked Vs. Diversified Capitalism: The Relation Between Economic Institutions and Outcomes," NBER Working Papers 7556, National Bureau of Economic Research, Inc.
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